Hopes rise for Bede group

Feb 6 2008 by Peter McCusker, The Journal

THE latest trading statement from troubled technology group Bede saying it was still in talks with a possible buyer saw shares rally slightly.

The Journal reported last year how analysts warned the plc faced going out of business.

A trading statement for the year ending December 31, showing orders were below plan at £1.1m, added to the gloom but the company has confirmed “it was still in discussions that may or may not lead to an offer being made for the company”. An independent review of the Durham-based company’s financial affairs, prepared by KPMG of Newcastle late last year, said: “The group incurred a net loss of £2.3m during the nine months ended September 30.

“This indicates the existence of a material uncertainty which may cast significant doubt on the group’s ability to continue as a going concern.”

The company, which was founded in 1978 by Prof Brian Tanner and three colleagues from Durham University, is based at Belmont Business Park, near Durham City. Shares have rallied to 2.8p in the last two days a rise of 0.25p.